Product Code: GVR-4-68039-951-3
Insulin Market Growth & Trends:
The global insulin market is expected to reach USD 23.20 billion by 2030, expanding at a CAGR of 1.5% during the forecast period, according to a new report by Grand View Research, Inc. It is an oligopolistic space dominated by companies such as Novo Nordisk A/S, Sanofi, and Eli Lilly and Company. The increasing incidence of diabetes and formulation advancements in insulin delivery are the primary factors driving growth. However, the presence of biosimilars and drugs such as GLP-1 RAs for the treatment of type 2 diabetes can slow down market growth to a certain extent.
Diabetes is one of the fastest-growing chronic diseases in the world. Its prevalence has increased steadily over the past few decades. The prevalence of the disease is growing rapidly in low- and middle-income countries; three in four adults live with diabetes in these countries. According to the International Diabetes Federation (IDF) data from 2021, approximately 643 million individuals will have diabetes by 2030 and 783 million by 2045. In addition, the increase in geriatric and obese populations is another factor driving growth. The overweight population is at risk of developing type 2 diabetes mellitus. According to WHO, in 2020, 1.9 billion adults were found to be overweight, accounting for 39% of the population within that age group.
Formulation advancements in insulin delivery systems are being developed, the release of which is likely to propel the market over the forecast period. In December 2019, Tandem Diabetes Care's Control-IQ, an interoperable device, received FDA authorization for marketing in the U.S. It is an automated insulin dosing algorithm that can be used with other interoperable devices.
The top three manufacturing companies, Eli Lilly and Company, Novo Nordisk A/S, and Sanofi, hold a monopoly. These companies hold more than 90% of the market share. Owing to the oligopolistic nature of the market and patent protection, the cost of insulin is high. Hence, the high cost of products could impede industry growth.
The COVID-19 pandemic caused a detrimental impact on the industry. Individuals with chronic illnesses, such as diabetes, have experienced substantial disruptions in emergency and routine medical care. According to an NCBI article, out of ~30 million diabetic patients in America, about 7.5 million are dependent on insulin. Insulin rationing or hoarding has already been a rampant issue, which increased further amid the pandemic due to supply concerns. However, in several countries, the effect of COVID-19 declined to post the third quarter of 2020, which helped the market regain traction.
Insulin Market Report Highlights:
- The long-acting insulin segment contributed a significant revenue share of 56.53% in 2021. Factors such as patent protection and high demand due to long-term effects are expected to drive the segment
- Type 1 diabetes mellitus is the largest segment by application in 2021 due to the high insulin dependency of these patients
- Insulin analog segment dominated in 2021. It is due to the higher efficacy of insulin and minimal adverse effects, such as hypoglycemic attacks and lower weight gain, as compared to conventional therapy
- The retail pharmacy segment dominated the distribution channel in 2021 due to the presence of retail pharmacy chains and tie-ups of these chains with hospitals
- North America dominated the market in terms of revenue in 2021, mainly due to the dominance of branded products and the increasing prevalence of diabetes in the region
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market segmentation
- 1.1.1 Estimates and forecast timeline
- 1.2 Research Methodology
- 1.3 Information Procurement
- 1.3.1 Purchased database
- 1.3.2 GVR'S internal database
- 1.3.3 Secondary sources
- 1.3.4 Primary research
- 1.3.5 Details of primary research
- 1.3.6 List of primary sources
- 1.4 Information or data analysis
- 1.4.1 Data analysis models
- 1.5 Market Formulation & Validation
- 1.6 Model Details
- 1.6.1 Commodity flow analysis
- 1.6.1.1 Approach 1: Commodity Flow Approach
- 1.6.1.2 Approach 2: Country-wise market estimation using the bottom-up approach
- 1.7 Global Market: CAGR Calculation
- 1.8 Research Assumptions
- 1.9 List of Secondary Sources
- 1.10 List of Abbreviations
- 1.11 Objectives
- 1.11.1 Objective 1
- 1.11.2 Objective 2
- 1.11.3 Objective 3
- 1.11.4 Objective 4
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
- 3.1 Market Lineage Outlook
- 3.1.1 Parent market outlook
- 3.2 Regulatory framework
- 3.3 Penetration and Growth Prospect Mapping
- 3.4 Pipeline Analysis
- 3.5 Market Dynamics
- 3.5.1 Market driver analysis
- 3.5.1.1 Increase in prevalence of diabetes
- 3.5.1.2 Increase in geriatric and obese population
- 3.5.1.3 Formulation advancements in insulin delivery systems
- 3.5.2 Market restraint analysis
- 3.5.2.1 High cost of insulin
- 3.5.2.2 Poor reimbursement policies
- 3.5.2.3 Launch of insulin biosimilars and increasing penetration of glp-1 agonists
- 3.6 Porter's Five Forces Analysis
- 3.7 PESTEL Analysis
- 3.8 COVID-19 Impact
Chapter 4 Global Insulin Market - Segment Analysis, By Product Type, 2018 - 2030 (USD Million)
- 4.1 Global Insulin Market: Product Type Movement Analysis
- 4.2 Rapid-Acting Insulin
- 4.2.1 Rapid-acting insulin market estimates and forecast, 2018 - 2030 (USD Million)
- 4.3 Long-acting Insulin
- 4.3.1 Long-acting insulin market estimates and forecast, 2018 - 2030 (USD Million)
- 4.4 Combination Insulin
- 4.4.1 Combination insulin market estimates and forecast, 2018 - 2030 (USD Million)
- 4.5 Biosimilar
- 4.5.1 Biosimilar market estimates and forecast, 2018 - 2030 (USD Million)
- 4.6 Others
- 4.6.1 Other market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 5 Global Insulin Market - Segment Analysis, By Type, 2018 - 2030 (USD Million)
- 5.1 Global Insulin Market: Type Movement Analysis
- 5.2 Human Insulin
- 5.2.1 Human Insulin Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 5.3 Insulin Analog
- 5.3.1 Insulin Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6 Global Insulin Market - Segment Analysis, Application, 2018 - 2030 (USD Million)
- 6.1 Global Insulin Market: Application Movement Analysis
- 6.2 Type 1 Diabetes Mellitus
- 6.2.1 Type 1 diabetes mellitus market estimates and forecast, 2018 - 2030 (USD Million)
- 6.3 Type 2 Diabetes Mellitus
- 6.3.1 Type 2 diabetes mellitus market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 7 Global Insulin Market - Segment Analysis, By Distribution Channel, 2018 - 2030 (USD Million)
- 7.1 Global Insulin Market: Distribution Channel Movement Analysis
- 7.2 Hospital Pharmacy
- 7.2.1 Hospital pharmacy market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3 Retail Pharmacy
- 7.3.1 Retail pharmacy market estimates and forecast, 2018 - 2030 (USD Million)
- 7.4 Others
- 7.4.1 Other market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 8 Insulin Market: Segment Analysis, by region, 2018 - 2030 (USD Million)
- 8.1 Insulin Market: Regional Movement Analysis
- 8.1.1 North America
- 8.1.1.1 North America market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.1.2 U.S.
- 8.1.1.2.1 U.S. market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.1.3 Canada
- 8.1.1.3.1 Canada market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.2 Europe
- 8.1.2.1 Europe market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.2.2 UK
- 8.1.2.2.1 UK market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.2.3 Germany
- 8.1.2.3.1 Germany market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.2.4 France
- 8.1.2.4.1 France market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.2.5 Spain
- 8.1.2.5.1 Spain market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.2.6 Italy
- 8.1.2.6.1 Italy market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.3 Asia Pacific
- 8.1.3.1 Asia Pacific market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.3.2 Japan
- 8.1.3.2.1 Japan market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.3.3 China
- 8.1.3.3.1 China market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.3.4 India
- 8.1.3.4.1 India market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.3.5 Australia
- 8.1.3.5.1 Australia market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.3.5 South Korea
- 8.1.3.5.1 South Korea market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.4 Latin America
- 8.1.4.1 Latin America market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.4.2 Brazil
- 8.1.4.2.1 Brazil market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.4.3 Mexico
- 8.1.4.3.1 Mexico market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.4.4 Argentina
- 8.1.4.4.1 Argentina market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.5 Middle East & Africa
- 8.1.5.1 Middle East & Africa market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.5.2 South Africa
- 8.1.5.2.1 South Africa market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.5.3 Saudi Arabia
- 8.1.5.3.1 Saudi Arabia market estimates and forecast, 2018 - 2030 (USD Million)
- 8.1.5.5 United Arab Emirates
- 8.1.5.5.1 United Arab Emirates market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 9 Global Insulin Market: Competitive Analysis
- 9.1 Recent Developments and Impact Analysis, by Key Market Participants
- 9.1.1 Synergy analysis: major deals and strategic alliances
- 9.1.1.1 New Product Launches
- 9.1.1.2 Mergers and Acquisitions
- 9.1.1.3 Partnerships & Agreements
- 9.2 Company Categorization
- 9.2.1 Innovators
- 9.2.2 Market Leaders
- 9.2.3 Emerging Players
- 9.2.4 Heat Map Analysis
- 9.3 Company Market Position Analysis
- 9.4 Vendor Landscape
- 9.4.1 List of Key Distributors and Channel Partners
- 9.4.2 List of Potential End-Users
- 9.4.3 Key Company Market Share Analysis, 2021
- 9.5 Company Market Share/Ranking, 2021
- 9.5.1 Company Market Share/Ranking, Rapid-Acting Insulin, 2021
- 9.5.2 Company Market Share/Ranking, Long-Acting Insulin, 2021
- 9.5.3 Company Market Share/Ranking, Biosimilars, 2021
- 9.5.4 Company Market Share/Ranking, Others, 2021
- 9.5.5 Competitive Dashboard Analysis
- 9.6 Private Companies
- 9.6.1 List of Key Emerging Companies
- 9.6.2 Regional Network Map
- 9.7 Company Profiles
- 9.7.1 Eli Lilly and Company
- 9.7.1.1 Company overview
- 9.7.1.2 Financial performance
- 9.7.1.3 Product benchmarking
- 9.7.1.4 Strategic initiatives
- 9.7.2 Sanofi
- 9.7.2.1 Company overview
- 9.7.2.2 Financial performance
- 9.7.2.3 Product benchmarking
- 9.7.2.4 Strategic initiatives
- 9.7.3 Novo Nordisk A/S
- 9.7.3.1 Company overview
- 9.7.3.2 Financial performance
- 9.7.3.3 Product benchmarking
- 9.7.3.4 Strategic initiatives
- 9.7.4 Biocon
- 9.7.4.1 Company overview
- 9.7.4.2 Financial performance
- 9.7.4.3 Product benchmarking
- 9.7.4.4 Strategic initiatives
- 9.7.5 Boehringer Ingelheim International GmbH
- 9.7.5.1 Company overview
- 9.7.5.2 Financial performance
- 9.7.5.3 Product benchmarking
- 9.7.5.4 Strategic initiatives
- 9.7.6 Tonghua Dongbao Pharmaceutical Co. Ltd.
- 9.7.6.1 Company overview
- 9.7.6.2 Product benchmarking
- 9.7.6.3 Strategic initiatives
- 9.7.7 Wockhardt
- 9.7.7.1 Company overview
- 9.7.7.2 Financial performance
- 9.7.7.3 Product benchmarking
- 9.7.8 Julphar
- 9.7.8.1 Company overview
- 9.7.8.2 Financial performance
- 9.7.8.3 Product benchmarking
- 9.7.8.4 Strategic initiatives
- 9.7.9 The United Laboratories International Holdings Limited
- 9.7.9.1 Company overview
- 9.7.9.2 Financial performance
- 9.7.9.3 Product benchmarking